Meredith Kopit Levien, the company’s president and CEO, said: “Our performance in 2021 demonstrated the power of our digital-first, subscription-first approach as we posted our second-best year ever for net subscription additions and strongest operating profit and adjusted operating profit in many years, which was a result of our consistent strategy and focus. Since we launched our current strategy in 2015, we’ve been investing steadily into a once-in-a-generation opportunity to pioneer the development of a large and growing news and information market at a time when habits are up for grabs.
“Our priority from here is to continue this momentum by further penetrating our growing total addressable market and leveraging both our unique platform and the deliberate investments we’ve made in our journalism, technology, and adjacent products to build a larger and more profitable New York Times Company. For the third time in six years, we are setting a new, more ambitious target as we pursue the next phase in our growth journey.
“Our latest audience research suggests there are now at least 135 million adults worldwide who are paying or willing to pay for one or more subscriptions to English-language news, sports coverage, puzzles, recipes, or expert shopping advice. This large and growing addressable market, combined with our unique platform, gives us great confidence in our ability to continue to grow.”
To further penetrate the market, the company aims to become the essential subscription for every English-speaking person seeking to understand and engage with the world.
The company plans to increasingly promote a bundled digital subscription, and has set a new goal of at least 15 million total subscribers to The Times by year-end 2027.
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